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Tia will open its second LA clinic in Santa Monica, with three more coming later this year
Despite funding to digital health companies dropping 48% in 2022, one sector that still managed to thrive was femtech: while funding fell 17% from 2021, it still topped $1 billion for the second time ever. Also, femtech's share of all digital health funding rose to 13.26%, up from 8.75% in 2021, and 7.6% in 2020.
Among those companies that raised big rounds last year included Carrot Fertility, a fertility benefits company that raised a $75 million round; Maven, a provider of virtual care for women and families, which raised $110 million for a $1 billion valuation, making it the first digital health unicorn in the femtech space; and Tia, and in-person and virtual care provider, which raised $100 million.
Through this partnership, Cedars-Sinai medical directors and specialists will work with Tia medical directors and providers, sharing clinical protocols and care coordination.
They will also work on coordinated measurement and improvement on quality metrics to improve patient outcomes and women's healthcare standards, as well as technical integration, which will eventually include shared clinical notes, medical records, care coordination, and quality data reporting.
Founded in 2016, Tia’s provides what it calls a, “Whole Woman, Whole Life” care model that includes both virtual and in-person services. It provides primary care, mental health, and gynecological care, along with wellness services, such as acupuncture, for its members.
A Tia membership costs either $15 per month, along with a $20 initiation fee, or a $150 Annual Membership that has no initiation fee.
As per this partnership, Tia also opened its second Los Angeles-area clinic, located in Santa Monica, in collaboration with Cedars-Sinai; the company opened it first LA-based clinic, located in Silver Lake, in 2021, and it now plans to open additional clinics later this year in Pasadena, Studio City and Culver City.
Cedars-Sinai, which currently serves more than 1 million people each year in over 40 locations, with more than 4,500 physicians and nurses, and 1,500 research projects, is the third major health system to sign up to work with Tia: the company announced a deal last year with UCSF Health to open 10 clinics in the Bay Area, and previously signed a deal with CommonSpirit to also launch clinics, with the first opening in Phoenix in November 2021.
In addition, Tia currently has locations in the Flatiron, Soho and Williamsburg neighborhoods in New York City.
“Cedars-Sinai and Tia share a common vision to elevate women’s healthcare by expanding access to high-quality, comprehensive care,” Sarah Kilpatrick, MD, PhD, chair of the Department of Obstetrics and Gynecology at Cedars-Sinai, said in a statement.
“As a national leader in women’s health, we are pleased to continue elevating options for our patients. We look forward to making primary and specialty care services available to more women in the community.”
(Image source: asktia.com)
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